Friedland warns of copper crisis as mine costs soar -
https://www.mining.com/friedland-warns-of-copper-crisis-as-mine-costs-soar/ Emphasizing the necessity for higher copper prices to meet future demand, Robert Friedland of Ivanhoe Mines, highlighted the global copper shortage and predicted that more copper will be needed in the next 20 years than in all of human history during the closing panel at the Rule Symposium.
Driven by the energy transition and electrification, the cost of new copper mines have surged, with projects in Chile and Peru becoming much more expensive due to inflation and declining ore grades.
A High-Grade Polymetallic Copper Project in Quebec's Abitibi Greenstone Belt
Located amid this dynamic market, Abitibi Metals (AMQ.c AMQFF) has emerged as a high-potential opportunity as it's a well funded, $36M mcap copper junior advancing the B26 High-Grade Polymetallic Copper Project.
Boasting an indicated resource of 6.9MT @ 2.94% Cu Eq and an inferred resource of 4.41MT @ 2.97% CuEq, B26 holds significant potential with several high-priority drill targets identified outside of the main deposit, including a targeted trend of ~6.7km west of the footprint which will be investigated.
With ~$17M in cash, AMQ is on track to complete the remaining 16,500m of drilling planned for its 2024 work program at B26, as well as an additional 20,000m in 2025, to be incorporated into a PEA to complete the B26 option.
Amid this copper super cycle, AMQ is primed for a catalyst filled summer as it aims to build a resource that is saleable to a major, with a target size of 20 to 30 million tonnes.
Latest News Release:
https://finance.yahoo.com/news/mabel-ventures-completes-2024-drill-123000832.html For more information, check out the latest CEO interview from the KE Report detailing the latest drill results from the B26 Deposit and extensive exploration program:
https://www.kereport.com/2024/06/03/abitibi-metals-recent-drill-results-from-b26-deposit-intersects-high-grade-copper/ Posted on Behalf of Abitibi Metals Corp.